Penno Company reported ending inventories of $23,560,000 in 2017 and $25,790,000 in 2016. Cost of goods sold totaled $142,790,000 in 2017. Find the following

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b. Set up a T-account for inventory and post the cost of goods sold entry from part a. to this account. Inventory Balance 2,579,000 0 a 0 142,790,0( c 0 2,356,000 Balance 0 0